June 18, 2021

Verizon says it won’t allow you to cancel your coverage without paying a $5,000 penalty.

The US telecommunications company’s refusal to allow you a refund for the service you’ve paid for is one of the most significant cases of consumer fraud that has hit the US since the Great Recession.

“Verizon will not issue you a credit card for the full amount of your outstanding service,” the company said in a statement on Friday.

“The service will be cancelled and the balance will be deducted from your credit card.”

This is not the first time that Verizon has refused to allow consumers to cancel their service.

In 2011, it stopped offering plans that allowed customers to cancel coverage without a credit check.

In February, the company told US regulators that it was “fully committed to protecting your privacy and security”, but would not “issue you a card or offer you any credit to cancel.”

Verizon said it is taking steps to prevent such cases.

The company said it was working to remove fraudulent customers from its service and would work with the Federal Trade Commission to improve the process for resolving fraudulent claims.

“We take fraud very seriously, and our systems are designed to protect consumers, and we will continue to do so,” it said.

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